Word: capitalisme
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All that has dramatically changed in the 1980s, as capitalism has become the spirit of the age. More and more countries are turning to free enterprise as the last, best hope for faster economic and social development. Fetters are being taken off industry. Entrepreneurship, the business of starting up companies...
The most productive figure in history is the individual trying to improve his status. Whether he is an Asian peasant tilling his land or an American businessman building a company, the profit incentive is a powerful force. Capitalism is not a neat, orderly system. The street vendors of Lima or...
Republican Congressman Jack Kemp happily says, "Capitalism is not a dirty word anymore." Actually, that is not quite right. In much of the world, the term still conjures up images of 19th century sweatshops and colonialism. In fact, socialism's elusive promise of economic equality retains a powerful appeal in...
But no matter whether leaders call it private enterprise or free enterprise or privatization, the policy they are advocating today is basically capitalism. The most fundamental distinction between socialism and capitalism is that capitalism looks to the individual to be the main actor in economic life, while socialism looks to...
The resurgence of capitalism is rewriting the world's political lexicons. Social Democratic leaders across Western Europe are increasingly pro-business. Says Herbert Giersch, director of the Institute of World Economics at the University of Kiel, West Germany: "The European Commission, even under a socialist president, is pushing toward a...